GRI partners with International Foundation to boost sustainability data

The Global Reporting Initiative (GRI) and the International Foundation for Valuing Impacts (IFVI) have partnered in a move aiming to make sustainability data as accessible, actionable and comparable as financial information.

The two global organisations have signed a memorandum of understanding (MoU), agreeing to:

• Collaborate on building market uptake of each other’s methodologies, approaches and standards;
• Mutual promotion of each organisation’s research, thought leadership, events and other activities to build capacity and expertise;
• Joint stakeholder engagement, such as seminars and roundtables on sustainability reporting and data availability;
• Align fundraising activities through joint funding proposals;
• Jointly collaborate on capacity-building initiatives, for example in relation to GRI’s Sustainability Innovation Lab.

Both GRI and IFVI said they are committed to enabling businesses to contribute to a just and sustainable future, through a deep understanding of their impacts.

The GRI Standards are the world’s most widely used framework for sustainability reporting, while IFVI builds on the frameworks and protocols of GRI and existing standard-setters to develop the next level of sustainability information – the monetary valuation of impacts, also called impact accounting.

Eelco van der Enden, CEO of GRI said: “Given the strong alignment between the missions of GRI and the IFVI, which both emphasise the crucial value of accountability on impacts, it is clear that the two organisations share common interests and goals. I am delighted, therefore, to formalise and deepen our collaboration through this MoU. Unlocking open access to sustainability data will empower companies, investors and other stakeholders to strengthen transparency in the supply chain, driving informed decision-making towards a more sustainable future. Through strategic collaboration and mutual support, GRI and IFVI will work together to make this a reality.”

T Robert Zochowski, president & CEO of IFVI, added: “IFVI was founded to build on the critical work of organisations like GRI to develop a globally applicable and comprehensive impact accounting methodology for the public good. We’re thrilled to be working closer with GRI and continue the work of our peers in increasing collaboration and alignment in the pursuit of our shared goal of a just and sustainable economic system.”